On Tuesday, President Donald Trump announced that a trade agreement has been reached with Indonesia, just a week after he threatened to impose a 32% tariff on the Southeast Asian nation’s exports to the United States.
Trump referred to the deal as a “great deal, for everybody” in a post on Truth Social, indicating that it came about through direct negotiations with Indonesian President Prabowo Subianto.
While he did not share specific details about the agreement, Trump promised that further information would be provided soon.
Indonesia ranks among the top 25 trade partners of the United States, with more than $38 billion worth of goods exchanged between the two nations in 2024. The trade deficit for the U.S. with Indonesia was reported at $17.9 billion last year, according to data from the Commerce Department.
The announcement regarding Indonesia mirrors a previous declaration by Trump on July 2, when he revealed a trade agreement with Vietnam.
Similar to the Indonesia deal, Trump’s original comments about the Vietnam agreement lacked detail. However, he later specified in a subsequent post that it included a 20% tariff on Vietnamese imports.
Reports indicate that Vietnamese officials were caught off guard by Trump’s portrayal of their preliminary deal, and as of July 10, the Vietnamese government had yet to formally agree to the terms outlined by Trump, according to Politico.
The White House has not yet responded to inquiries from Finance Newso regarding further details on the alleged agreement with Indonesia.
This is developing news. Please check back for updates.
